The market for water-borne adhesives is likely to register a CAGR of over 5%, during the forecast period. One of the major factors driving the market is the increasing demand from the packaging industry.
- Limited usage in high-end applications is likely to act as a restraint to the market studied.
- Acrylic resin type has accounted for the highest share of the market and is expected to continue dominating the market during the forecast period.
- Incorporation of bio-based polyol components in water-borne adhesives is likely to provide opportunities for the market growth, in the future.
- Asia-Pacific is likely to account for the major market share, during the forecast period.
Key Market Trends
Construction Industry to Dominate the Market
- In the construction sector, adhesives are used in concrete, ceramic tiles, carpet laying, flooring underlayment, drywall lamination, joint cement, manufactured housing, pre-finished panels, resilient flooring, roofing, and wall covering. Various types of adhesives are used depending on the purposes they serve. The growth in green building construction, coupled with the rising concern about the quality of construction, is accelerating the demand for water-borne adhesives.
- Water-borne adhesives are produced from either soluble synthetic polymers or natural polymers. Water-borne adhesives use water as a carrier or diluting medium to disperse a resin. Water-borne adhesives are increasingly becoming an integral part of construction chemicals, owing to their eco-friendly and low-toxic nature, high solid content, and high initial adhesion properties.
- Furthermore, according to the United Nations (UN), around 50% of the global population resides in urban cities, which is projected to touch 60%, by 2030. The pace of economic and demographic growth has to be in harmony with the demand for commercial, residential, and institutional construction activities. By 2030, around 40% of the global population is likely to need housing at the rate of over 96,150 houses per day. Hence, with the growth of the residential sector, the use of water-borne adhesives is likely to increase during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific dominated the water-borne adhesives market, in terms of consumption.
- China is currently the leading consumer of water-borne adhesives across the world, followed by India.
- Most of the major players of the market have a presence in China. The rapidly growing packaging industry of China is also likely to boost the demand for water-borne adhesives.
- In India, the construction and packaging sectors have been witnessing substantial growth in the recent years, owing to the increasing investments from the government.
- Furthermore, shifting consumer focus toward flexible packaging may offer numerous opportunities to the growth of the Asia-Pacific water-based adhesives market.
- Hence, Asia-Pacific is likely to dominate the market during the forecast period.
The market for water-borne adhesives is highly fragmented, and the market share is divided among several players. Some of the key companies of the market include 3M, Henkel AG & Co. KGaA, HB Fuller Company, Arkema, and Sika AG, among others.
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Table of Contents
1.2 Scope of the Study
4.1.1 Increasing Demand from Packaging Industry
4.1.2 Other Drivers
4.2.1 Limited Usage in High-end Applications
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1.2 Polyvinyl Acetate (PVA) Emulsion
5.1.3 Ethylene Vinyl Acetate (EVA) Emulsion
5.1.4 Polyurethane Dispersions and CR (Chloroprene Rubber) Latex
5.1.5 Other Resin Types
5.2 End-user Industry
5.2.1 Building and Construction
5.2.2 Paper, Board, and Packaging
5.2.3 Woodworking and Joinery
5.2.6 Electrical and Electronics
5.2.7 Other End-user Industries
188.8.131.52 South Korea
184.108.40.206 ASEAN Countries
220.127.116.11 Rest of Asia-Pacific
5.3.2 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of the Europe
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 AdCo (UK) Ltd.
6.4.3 Alfa International Corporation
6.4.4 Arkema Group (Bostik SA)
6.4.6 Avery Dennison Corporation
6.4.7 Benson Polymers Limited
6.4.9 HB Fuller Company
6.4.10 Henkel AG and Co. KGaA
6.4.11 Jowat AG
6.4.12 PARKER HANNIFIN CORP
6.4.13 Royal Adhesives & Sealants.
6.4.14 Sika AG
6.4.15 Wacker Chemie AG
6.4.16 Wisdom Adhesives Worldwide